We are excited to share an important new resource with you: Revolving Funds for Sustainability Projects at Airports. This report was funded and published by the U.S. federal government’s Transportation Research Board under the National Academy of Sciences. While written with a focus on airports, nearly all of the content is also directly relevant to universities, K-12 schools, city/state governments and institutions in other sectors.
In collaboration with the Rocky Mountain Institute, Cadmus, and Frasca & Associates, we published a significant report that provides detailed guidance on how to set up a green revolving fund (GRF). Building on the success of GRFs at universities, this publication explores the relevance of this innovative financing model to the airport sector. The report is an accessible guide for any airport personnel looking to start a GRF.
From the report: “Many worthwhile airport sustainability actions are often not pursued because of a lack of funding. Airports may have a limited ability to pursue capital projects that are dedicated solely to increasing efficiency. Planning teams prioritize opportunities that support aircraft operations or enhance passenger terminal capacity. Operational budgets have limited potential to support new projects over other existing recurring expenses. A GRF solves these challenges by creating a dedicated funding stream for sustainability projects that does not compete with existing capital and operating budget priorities.”
Sustainable Endowments Institute, the creator of the GRITS platform, has worked with hundreds of universities with GRFs for over a decade. GRITS is designed to help institutions calculate and share revolving fund project data and keep track of fund finances. Airports have different needs than universities or municipalities, but the basic mechanism is the same. Take a look at the report to learn more.
